How I store my Bitcoin for the long term

in #bitcoin6 years ago (edited)

Hi Guys,

I store my coins several ways.
For the moment I use exchanges (will be reduced to a minimum, multiple coin wallet like Exodus and paper wallets.

This time I just wanted to give a view how I store my bitcoin on 2 paper wallets.

First you have to generate a paper wallet.
This can be easily done here https://www.bitaddress.org
I go to the site and then I disconnect my internet.
I wait till it creates the paper wallet by doing randome gestures with my mouse and typing.

Schermafdruk van 2019-01-23 11-45-52.png

Then I copy paste it in a text file my private and my public key.
This still all done offsite and without connection to the internet and a non infected machine off course.

I have done it in a virtual machine to be sure but I think if you know what you are doing you can do it on your machine.
I also print it out offline better off course is to write it down yourself.

Then I have 2 usb sticks laying around which are encrypted with bitlocker.
I copy paste the the text file keys into it.

After all this is done I wipe my history settings and remove my cached data and temporary files.
After restarting the pc I turn on my internet again.

So now I have 2 encrypted usb sticks with the keys on it.
1 will be stored in my house the other one will be stored at another place with family.
I actually had also a SD card laying around which I also encrypted and put at another place to.
The printed version is also hidden in my house.

Then you have to transfer some bitcoin to the public adress.
I always do it with a smaller amount just to be sure.

I know it maybe be a bit riskier then a hardware wallet like Ledger or Trezor but this is for me safe enough and is also the cheapest option.

Do you like this method or do you have some other suggestions? Feel free to comment.

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Calling @originalworks :)
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Nice, you got an awesome upgoat, thanks to @digitalworldyou
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